S TALK of coalitions running the Assembly after May swirl around Cardiff Bay, the Liberal Democrats find themselves in the calm at the eye of the storm.

Whatever the voters decide to do on May 3, it seems very likely that at least two parties are going to have to come together to form an Assembly Government. The only party that everyone wants to talk to are the Liberal Democrats, one-time partners of Welsh Labour but also being wooed by the Conservatives and Plaid Cymru.

Anyone with so many potential suitors would be forgiven for getting a bit carried away, but we hope the Liberal Democrats, whatever the options presented to them on May 4, act with the best interests of Wales, rather than their own, at heart.

The party itself would say, of course, that the two things are one and the same, although the fact that every party thinks this way is worth bearing in mind. Nevertheless Mike German, the leader of the party in the Assembly, is brimming with confidence, and with good reason. Whether it's with Labour, with Plaid and the Tories or in some other yet-unimagined combination, it is likely that he will hold a senior ministerial job of some sort come the summer.

That this is now being discussed openly is a quirk of Welsh politics. The Liberal Democrats are the fourth party in the Assembly, holding six of the 60 seats. Even on a good day with the wind behind them, it is unlikely they will increase their tally to any more than nine or 10. But the balance of power is likely to rest with them nonetheless, with the PR element to the voting system making a Plaid, Tory or Labour majority very difficult to achieve.

It is important the Liberal Democrats bear this in mind when decision day arrives. The people of Wales will not have given them the largest share of the vote, so it would not be appropriate for them to begin behaving as if the shape of the next four years of Assembly politics were entirely down to them.

The Assembly is getting significant new powers after May, and the institution needs stability to allow the new system to bed in, and win the confidence of the public. Endless negotiations on the shape of a new cabinet would not be a recipe for stability or confidence.

Liberal Democrats are planning to unveil at least 100 policies before polling day, some of which will inevitably be jettisoned in a coalition deal. The more open and transparent all sides are about this horse-trading, in the meantime, the better.

The result of the Assembly elections is, of course, a matter for the voters. But it is vital that the Lib-Dems behave as responsible kingmakers, not a block of AMs available to the highest bidder. They owe that to the people of Wales - whether they vote Lib-Dem or not.